The 2009 Executive Budget Document
Secretary of Commerce and Trade
Mission Statement
Through delegated authority, using specific management and measuring tools, the Secretary of Commerce and Trade provides guidance to agencies within its secretariat. The office oversees agencies responsible for promoting statewide economic growth and community development, attracting and retaining business, promoting the state’s tourism, racing, and film industries, addressing the need for moderate and low income housing, assisting disadvantaged businesses, regulating occupations and professions, ensuring safe workplaces, pursuing international markets for Virginia products, developing and conserving energy and mineral resources, administering the unemployment compensation program, and financing infrastructure projects for localities.
Operating Budget History
| General Fund | Nongeneral Fund | Positions | |
|---|---|---|---|
| 2005 Appropriation | $ 658,171 | $ 0 | 8.00 |
| 2006 Appropriation | $ 797,149 | $ 0 | 8.00 |
| 2007 Appropriation | $ 836,869 | $ 0 | 8.00 |
| 2008 Appropriation | $ 837,069 | $ 0 | 8.00 |
| General Fund | Nongeneral Fund | Positions | |
|---|---|---|---|
| 2009 Base Budget | $ 25,415,321 | $ 0 | 8.00 |
| 2009 Addenda | $ (734,244) | $ 0 | 0.00 |
| 2009 Total | $ 24,681,077 | $ 0 | 8.00 |
| 2010 Base Budget | $ 19,565,321 | $ 0 | 8.00 |
| 2010 Addenda | $ (4,471,524) | $ 0 | 0.00 |
| 2010 Total | $ 15,093,797 | $ 0 | 8.00 |
Recommended Operating Budget Addenda
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Implement targeted reductionsImplements targeted reductions for 2009 and 2010 included in Governor Kaine's 2008-2010 Budget Reduction Plan. In addition to the targeted reduction, the office will share in the administrative savings identified in the 2008-2010 Budget Reduction Plan for the Office of the Governor. The reduction amount will be distributed during execution of the budget. Reduction details for the targeted reductions can be found in Part D of this document. For 2009, a decrease of $734,244 (GF). For 2010, a decrease of $9.5 million (GF).
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Increase funding for the Governor's Development Opportunity FundIncreases funding in FY 2010 for the Governor's Development Opportunity Fund. The fund provides either grants or loans to localities to assist in the creation of new jobs and investment in accordance with criteria established by legislation. The additional funding is necessary to address anticipated needs through the remainder of the biennium. For 2010, $5.0 million (GF).
Budget Reduction Strategies
December Reduction Strategies
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Reduce funding for economic development incentives
Adjusts funding in each year for the Virginia Investment Partnership grants based on the most recent schedule of payments, and to reflect balances in the Virginia Investment Partnership Fund. Also, removes funding in the second year provided for payments from the Semiconductor Memory or Logic Wafer Manufacturing Performance Grant Fund II.
FY 2009 FY 2010 General Fund Savings $ (734,244) $ (9,468,210) -
Remove additional funding for pay practices
Removes the half-percent pay practices funding granted to Executive branch agencies in the 2006-08 biennium.
FY 2009 FY 2010 General Fund Savings $ 0 $ (3,314)